Referral System and Method

1. A system comprising: a referral program comprising a referral account controlled by an issuing entity on behalf of a merchant having machine-readable account information stored therein identifying account information for at least said merchant, a first referring entity authorized by said issuing entity to initially assign said referral account, a second referring entity authorized by said first referring entity to obtain valuable benefits from said issuing entity in a manner predetermined by the issuing entity in exchange for taking action predetermined by said issuing entity and/or to further assign said referral account to at least one additional referring entity in exchange for other benefits, the referral account being configurable to contain an undisclosed value that can only be determined by an assignee of the referral account at the time of a purchase at said merchant, the manner of payment of benefits by the issuing entity being determined such that the referral account never has a zero balance of available benefits; a referral acceptor; a referral coordinator coupled to the referral acceptor; a referral calculator coupled to the referral coordinator and an input/output (I/O) device coupled to the referral coordinator, wherein the referral acceptor is configured to accept said referral account, wherein the referral account has a referrer identifier that identifies each referrer of the assignee of the referral account.

2. The system of claim 1 , wherein said referral account also acts as a gift account for the assignee of the referral account.

3. The system of claim 1 , wherein said referral account further comprises a referred identifier.

4. The system of claim 3 , wherein a benefit accrues upon a use of the referral account to a referrer identified by the referrer identifier.

5. The system of claim 1 , wherein a plurality of referral accounts share a same referrer identifier.

6. The system of claim 1 , wherein a merchant programs the referral account at the referral acceptor.

7. The system of claim 1 , further comprising a portable physical storage medium including at least computer-readable account identifier information sufficient to identify the referring entities.

8. A method operable on a computer system for allocating benefits from referral and use of a referral account controlled by an issuing entity on behalf of a merchant comprising: completing a referral account application having a referrer identifier by a referring person for said issuing entity, the referrer identifier being stored in the account in machine-readable form; registering the referral account application by storing account information for the referrer in a computer memory; referring, by the referrer, a referred customer to the merchant with the referral account by storing account information for the referring entity in a computer memory; registering the referral account of the customer in their own account which registers purchases and applies a gift account value associated with the referral account for that account by storing account information for the customer in a computer memory; and crediting value to the referrer's account by means of a computing device to allocate benefits provided by an issuing entity among the referrer and the customer in a manner predetermined by the issuing entity, the account being configurable to contain an undisclosed value that can only be determined by an assignee of the account at the time of a purchase at said merchant, the manner of allocation of the benefits ensuring that the account never has a zero balance of available benefits.

9. The method of claim 8 , wherein the crediting occurs in real time.

10. The method of claim 8 , wherein a value is selected from one of the group consisting of: a basic plan: a custom plan: a custom plus plan: a premium plan: a premium plus plan: and a custom design plan.

11. The method of claim 8 , wherein said referral account also acts as a gift account for an assignee of the referral account.

12. The method of claim 8 , wherein said referral account further comprises a referred identifier.

13. The method of claim 8 , wherein a plurality of referral accounts share a same referrer identifier.

14. A method, comprising: enrolling by a merchant in a referral account program, said referral account program comprising a referral account assigned by an issuing entity on behalf of a merchant having machine-readable account information stored therein identifying account information for at least said merchant, a first referring entity authorized by said issuing entity to initially assign said referral account, a second referring entity authorized by said first referring entity to obtain valuable benefits from said issuing entity in a manner predetermined by the issuing entity in exchange for taking action predetermined by said issuing entity and/or to further assign said referral account to at least one additional referring entity in exchange for other benefits, the referral account being configurable to prevent an assignee of the referral account from determining the available balance until the time of a purchase at said merchant, the manner of payment of benefits by the issuing entity being determined such that the referral account never has a zero balance of available benefits; validating the information enrolled by the merchant; presenting a list of options to customize a referral account; and selecting by the merchant from the list of options for the referral account.

15. The method of claim 14 , wherein the options include: defaults for credit percentage to be applied to a referrer; and an expiration date for a referral account.

16. The method of claim 14 , further comprising activating the referral account.

17. The method of claim 14 , further comprising inputting a referral identifier for a referral account holder.

18. The method of claim 14 , further comprising inputting a gift amount for the referral account.

19. The method of claim 14 , further comprising activating a plurality of referral accounts having a same referral identifier.

20. The method of claim 14 , further comprising entering a merchant identifier into the referral account that identifies the merchant.